61324 – BSB61015 Advanced Diploma of Leadership andManagementBSBMGT617

SOLUTION AT Australian Expert Writers

Assignment Details:
Diploma of andManagementBSBMGT617 Develop and Implement aBusiness PlanLEARNER’S GUIDEMode | Classroom DeliveryBSBMGT617 Develop and Implement a Business PlanSupporting: BSB61015 Advanced Diploma of Leadership and Management; May also support other qualifications based on respective packaging rules© Skillworks Australia Pty Ltd, 2018Copyright:Provided under license from Skillworks Australia Pty Ltd. All rights reserved.This document and its contents are protected by Australian and International copyright laws. No part of this document may be reproduced or transmitted in any form or by any means, electronically or mechanically, including photography, scanning, recording or any information storage or retrieval system, without permission in writing from the copyright owner. Information and/or resources used from the Commonwealth, government agencies, training.gov.au, public domain information, or any other external sources do not constitute copyright and remain the property of the original authors/agencies.All the websites and external resources mentioned in this publication, including any information linked to or referred to public domain information, are copyrighted to their respective owners. Web links are used as examples for reference purpose only and may have changed since publication of this resource. Skillworks Australia Pty Ltd or the author do not claim endorse the views expressed by them.Skillworks Australia Pty LtdACN: 153 650 894BSB61015 | BSBMGT617 Develop and Implement a Business PlanLearner’s Guide | V 4.0 | Oct 2020Pass Pty Ltd t/a ALTEC College |Provider Code: 22034 | CRICOS Code: 02926DApproved by: Quality Manager | Next Review: Dec 2021Validation HistoryDate & Place Validation Team Summary Outcomes Action ResponsibilityA complete validation is filed and available for reference.Version HistoryDate Version Changes in this Version Implemented on AuthorityTable of Contents1. Introduction 52. Unit Overview 53. Competency Standards 6AQF Descriptor 64. Delivery Plan 9Delivery Arrangement 9Delivery Conditions 9Lesson Topics and Plan 9Suggested Learner Resources 115. Plan 18Assessment Method 18Submission of Work 19Assessment Tasks and Schedule 206. Assessment Tasks 21Assessment Task 1: 21Assessment Task 2: 23Assessment Task 3: 267. Academic Policies and Processes 29Assignment Cover Sheet 31Unit of Competency : BSBMGT617 Develop and Implement a Business PlanTotal Delivery Hours : TBASchedule : TBACluster/Term : TBA1. IntroductionWelcome to the learner’s guide for this unit of competency for the qualification BSB61015 Advanced Diploma of Leadership and Management. This guide provides you with essential information on competency standards, delivery plan and schedule, assessment plan, assessment tasks and learning resources for this unit of competency.The purpose of this learner’s guide is to:? Provide you with information on delivery schedule and plan of this unit? Ensure the you understand how students will be assessed in this unit? Provide information on assessment methods, strategies, and evidence requirements? Provide information on learning activities and assessment tasks? List resources which may assist in student learning and assessment tasksThis unit also incorporates Foundation Skills that are embedded within the competency elements.2. Unit OverviewThis unit describes the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan.It applies to individuals who are running an organisation or who take a senior role in determining the functioning and success of the organisation. As such, they may oversee the work of a number of teams and other managers.Learning OutcomesOn successful completion of this unit, the learner/trainee will be able to;? Develop business plan? Monitor performance? Respond to performance dataAs well as demonstrating the performance criteria, to be assessed as competent, the learner must demonstrate their ability to apply the required knowledge and skills in a range of situations. These are summarised in the Competency Standards section below.Prerequisite RequirementsThis unit has a NO prerequisite.Skill Recognition and Credit TransferAppropriate credit(s) may be granted to eligible students against each unit of competency on presentation of evidence of successful completion of the same unit in an equivalent or higher qualification. Under theAustralian Qualifications Framework, this qualification recognises competencies achieved as part of a Nationally Recognised Qualification from other institutes or universities.Students may also apply for Recognition of Prior Learning (RPL) by providing evidence that they have the required skills and knowledge in the specific areas of competency through work/industry experience and/or completed eligible assessments in equivalent or higher qualification.Please refer to college’s RPL/Credit Transfer Policy for more information and applicable procedures. The policy is available either through the faculty coordinator or college’s website.3. Competency StandardsThis unit is derived from the Business Service training package BSB for the qualification BSB61015 Advanced Diploma of Leadership and Management.Competency standards for this unit are made up of unit descriptor (As provided in the Unit Overview), performance criteria, required skills, required knowledge, embedded employability skills components, assessment requirements and evidence guide.They can also be viewed at:View UnitThe learners must familiarise themselves with all the competency requirements for this unit of competency and ensure that they have received all the relevant information and support from the trainer and assessor that might be detrimental to their academic performance and outcomes.AQF DescriptorThe Advanced Diploma qualifies individuals who apply specialised knowledge in a range of contexts to undertake advanced skilled or paraprofessional work and as a pathway for further learning. Graduates of an Advanced Diploma will have specialised and integrated technical and theoretical knowledge with depth within one or more fields of work and learning.Graduates at this level will have a broad range of cognitive, technical and communication skills to select and apply methods and technologies to:? Analyse information to complete a range of activities? Interpret and transmit solutions to unpredictable and sometimes complex problems? Transmit information and skills to othersGraduates at this level will apply knowledge and skills to demonstrate autonomy, judgement and defined responsibility in contexts that are subject to change and within broad parameters to provide specialist advice and functions.Performance CriteriaThe following performance criteria specify the required level of performance for each of the elements of competency:Element Performance Criteria1. Develop business plan 1.1 Review and evaluate pre-existing strategic, business and operational plan, if available1.2 Analyse and interpret business vision, mission, values and objectives1.3 Consult with key stakeholders1.4 Review market requirements for the product or service, profile customer needs and research pricing options1.5 Develop performance objectives and measures through consultation with key stakeholders1.6 Identify financial, human and physical resource requirements for the business1.7 Consider any permits or licences that may be required for new activity1.8 Write business plan2. Monitor performance 2.1 Communicate business plan to all relevant parties and ensure understanding of performance requirements and timeframes2.2 Ensure skilled labour is available to implement plan 2.3 Test performance measurement systems and refine, if necessary2.4 Ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance2.5 Report system failures, product failures and variances to the business plan as they occur3. Respond to performance data 3.1 Analyse performance reports against planned objectives3.2 Review performance indicators and refine if necessary 3.3 Ensure groups and individuals contributing to underperformance are coached, and provide training where appropriate3.4 Review system processes and work methods regularly as part of continuous improvementPerformance EvidenceEvidence of the ability to:? Analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans? Write a business plan which includes a description of the business, products and services, financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas? Implement a business plan including ensuring skilled labour is available, and that training is provided where appropriate? Monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce? Consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers? Provide an of the strengths and weaknesses of a business plan.Knowledge EvidenceThe following knowledge must be assessed as part of this unit:? Outline processes for developing business plans? Describe performance objectives and measures including key performance indicators ??Identify key stakeholders.4. Delivery PlanDelivery is in the form of instructor-led, classroom-based training sessions supported by simulated learning and/or project sessions. Within the class room environment, delivery is supported by classroom-based activities, tasks, lectures and structured lessons. Strategies for classroom-based learning focus on development of skills and underpinning knowledge through practice, formative tasks, interaction, discussion, reading, feedback, and practical examples of the theory.Delivery ArrangementThe unit will be delivered over a prescribed period (term/semester) in a class-room training environment through a structured learning program comprising of (but not limited to) lectures, presentations, case studies, practical projects, group discussion and class-room based activities. Delivery schedule of this unit of competency is provided at the beginning of this guide. Timetables will be advised at the beginning of each academic term and posted on the notice board and college’s website.It is expected that training/learning sessions will incorporate group/collaborative activities and tasks that are relevant to the learning and evidence outcomes in this unit. The emphasis of learning, where possible, will be on linking theoretical concepts and models with real-life situations to provide the learners with an opportunity to gain an insight into key technological processes, professional environment and workplace practices.Delivery Conditions? Learners are required to attend the prescribed delivery sessions, in particular where assessment plan, schedule, projects, and in-class activities and tasks are planned? On commencement, the learners should review and understand all the course related information including course structure, prerequisites and competency requirements for each unit of competency? This unit of competency must be completed within the prescribed duration at the beginning of this document. Due dates for the assessments will be set by respective assessors on commencement of the unit and must be adhered to by all the learners? The learners have the responsibility to maintain the required attendance and participate in all the inclass activities and assessment/project tasks to be able to develop the required skills and knowledge.? The learners must keep record of their activities, assessments and research and take an active interest in exploring new concepts and ideas? On expiry of the prescribed due dates for assessment, the learners will not be able to attempt any assessments or the learning materials and must apply for a course extension. Learners should also refer to other prevailing terms and conditions of delivery and assessment of this course and contact the administration for further information if required.Lesson Topics and PlanThe following lesson plans are planned for this unit. According to session times, trainers may expand these lesson plans into their own session plans. Trainers must take a special note of the activities planned in the right-hand column. These activities form part of “Formative Assessments”. The formative assessments are not marked (assessed) but they contribute towards learning that prepares them for summative tasks.The following topics are covered in the classroom training sessions. The topics for this unit include;Lesson Topics Activities1 Unit overview, assessment information, assessment conditionsKey concepts and definitionsWhy plan?Strategic and business planning process in organisationsWhat do business plans look like?Who develops them?Example and discussion on a sample real-life strategic plan Review a samples business planDiscuss the main components of the plan in the class2 The business planning process:Key stakeholders in business planningAudienceExternally and internally focussed business plansPurposes and objectives of business planningDistinguishing between strategic and business plansDeveloping business goals and objectivesContents of a business planLegal and liability issues relevant to business plansManagement Concepts:Total quality management (TQM)Management by objectives (MBO)Balanced scorecardStrategic planningCritical success factors TQM and BOM casestudies and examplesClass discussion3-4 Business and internal analysis:Business history/profileStructure and management teamProducts and servicesSWOT analysisAvailable resources and IPThe strategic landscape:Strategy pyramidsBusiness goals and objectivesSales and marketing strategy (4Ps)Strategic alliancesValue proposition/Competitive strength Strategy Pyramid: ApplicationDevelop USP and UVP statements for a presumed/own businessCase Study: Kellogg’s: Using aims and objectives to create a business strategy5-6 External analysis:Defining the marketIndustry/sector analysisCompetitor analysisMarket trend analysisMarket positioning Conduct a market trend analysis for a known consumer or electronic product7-8Financial forecasts:Start-up budget/costsProfit and loss forecastCash flow forecastBalance sheet forecastBreak-even analysisIdentifying and assessing risks Prepare a start-up cost sheet for a presumed small businessConduct a break even analysis9 Tying it all together:Writing an executive summaryAligning business plan componentsDeveloping an action/implementation planObtaining necessary approvalsPresenting a business plan Sample business plan review and discussion10 Evaluating business plan performance: Tools and techniques Review and revisionClass discussion Assessment follow ups and feedbackSuggested Learner ResourcesFriends G., and Zehle S., 2009, Guide to Business Planning (The Economist: 2nd Ed.), Bloomburg PressAbrams R., and Doerr J., 2010, Successful Business Plan: Secrets & Strategies (Successful Business Plan Secrets and Strategies – 5th Ed.), Planning ShopBangs D.H., 2002, The Business Planning Guide, Kaplan PublishingWikibooks; How to Write a Business Plan: http://en.wikibooks.org/wiki/Writing_a_Business_PlanWriting a Business Plan: http://www.ausicom.com/i2m_start_up__business_plan.phpSmall Business Planning: http://finance.ninemsn.com.au/small-business/planning/ Starting a Business: http://www.business.gov.au/Howtoguides/Startingabusiness/Pages/default.aspxBusiness Planning:http://www.smallbiz.nsw.gov.au/start/earlystages/Pages/default.aspxMisc. Videos and Online ChannelsKhan Academy Channel https://www.youtube.com/user/khanacademy# https://www.youtube.com/channel/UC3yA8nDwraeOfnYfBWun83gTED Talks https://www.youtube.com/user/TEDtalksDirector/channelsMassachusetts Institute of Technology Channel https://www.youtube.com/user/MITGoogle for Education https://www.youtube.com/user/eduatgoogleReferencing GuideHarvard Referencing Generator: http://www.harvardgenerator.com/ http://www.citethisforme.com/au/referencing-generator/harvard____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________5. Assessment PlanAssessments for this unit have been developed by taking into account assessment guidelines as provided in the training package and evidence requirements stipulated in this unit of competency. Assessment is an ongoing process of gathering evidence to determine what each student/learner knows, understands and can do in order to inform teaching and support learning of the intended curriculum.The purposes of this assessment are;? To collect evidences that demonstrate competency in the performance criteria of the unit and satisfy skill, knowledge and employability skills requirements? To provide feedback to the learners/trainees indicating the areas of improvement and professional development? To measure the effectiveness of the delivery plan and evaluate the learning outcomesThe required assessment criteria are provided in each assessment task for learner’s information.Assessment MethodAssessment in this unit is based on assessment and evidence guidelines provided in the unit of competency and the training package. The evidence is generated through summative assessment tasks. However, the role of Formative Tasks is crucial in developing the required skills and knowledge in completing the summative tasks. Formative tasks enable the trainers to evaluate their own delivery and adjust their facilitation based on the outcomes from these tasks. The role of formative assessments is to improve learning and adapt to student needs.These tasks and activities usually take place throughout the unit and planned in accordance with the summative assessment plan/schedule. The formative tasks are generally referred to as “Portfolio” tasks. Portfolio is a collection of all the formative tasks completed during the learning sessions. The portfolio can be used by students as an evidence of participation or example of work completed as part of their learning.Formative tasks are not assessed.For summative tasks, the following assessment methods are available to collect the aforementioned evidence to demonstrate satisfactory performance in this unit;? Written Assessment Tasks? Practical/Analytical Tasks? Test/Examinations? Projects? Observation? Integrated AssessmentThe Written Assessment Tasks and Tests have been developed to address various parts of Performance Criteria as well as Required Knowledge.The Practical Tasks are developed to demonstrate competence in Required Skills. These assessment tasks and activities are mostly designed as in-class assessments, enabling the trainers to observe the work being undertaken and completed (i.e. demonstration of a specific/required skill). Practical tasks may also include use of online learning tools, equipment, activities, or use of software. Instructions for practical tasks are generally provided within the task description. However, trainers/assessor may set certain conditions for conducting and observing these tasks.The Project (Individual or Group based) addresses various aspects of competency standard including Performance Criteria, Required Skills and Employability Skills. The role of the project in assessment strategy is to measure student/trainee competence as a form of Summative Assessment. It demonstrates the efficacy of instructions and learning in the prescribed delivery period by assessing the overall performance of the students/trainees for the purpose of grading/final results.The Test/Exam is generally designed to test the Required Knowledge component of the unit of competency. It may also be used to reinforce learning and test specific aspects of other part of competency where knowledge of certain processes/procedures is required. A knowledge test may be verbal or written as specified in the task description. Examinations are conducted under set conditions.Observation forms part of in-class activities, participation in designated group processes, presentation and provides an option where specific skills need to be demonstrated to the assessor.Some of the assessments in this course may be used as Integrated Assessments; i.e. to use evidence created in one unit/task to determine competency in another unit/task. The concept behind the design of the integrated assessment is to limit repetitive tasks that test the same or similar competency elements in different units of competency.Optional/Supplementary AssessmentsIn addition to the above assessment instruments, the following methods can be used, if required, in the context of assessment for this unit of competence, especially in the circumstances where assessment involved components of online learning as well as actual workplace activities and/or performance.? Workplace Verification through RPL application? Competency Conversation at completion of the unitTo successfully complete this unit, learners must demonstrate that they have the skills and knowledge needed as indicated in the Competency Standards (2).Assessment can be both a formative and summative process. Formative assessment is used to provide feedback to students and teachers to promote further learning. Summative assessment contributes to the judgement of student learning for competency/award purposes.Submission of WorkAll the written works must be submitted in a hard copy, and an additional soft/electronic copy if required by the trainer/assessor, with an accompanying “Assessment Cover Sheet”. Each Assessment Cover Sheet should be signed by the student and must contain student details and date of submission. Assessment Cover Sheets are available at the reception.Material submitted for assessment—Word processed or handwritten assignments, reports, essays, projects, etc. must contain student’s name, ID (if available), address and contact details. Within the context of these assessment tasks, the assessor fulfils the role of client, manager or supervisor, as applicable. Work submitted for “approval” within this context must demonstrate care and attention to detail, such that the student inspires confidence that the work is being undertaken competently.Where soft copy/electronic files are submitted, students are encouraged to name the files according to established procedure. This would typically include a course or unit code, assessment or submission code, and in the case of multiple files an alphanumeric identifier. Multiple files may also be required to be submitted within an enclosing folder (with similar, appropriate naming conventions) or archive format—e.g. zip or rar. Follow submission guidelines in each assessment task for specific instructions.Assessment Tasks and ScheduleThe following assessments are planned for this unit;# Assessment Task/Activity Type Assessment Method1 Compare and Analyse Business Plans Individual Written2 Project: Develop a Business Plan Individual Written & Observation3 Develop an Implementation Plan Individual WrittenThese assessment tasks/activities have been described in detail in the following section.Task schedule to be advised by trainer/assessor based on the lesson and session plans.6. Assessment TasksAssessment Task 1:Assessment Task Compare and Analyse Business PlansSchedule TBAOutcomes Assessed Performance Criteria:1.1, 1.2, 1.4, 1.6, 2.3, 3.2Also addresses some elements of required skills and knowledge as shown in the Assessment MatrixDescription:The business plan is often described as a ‘living document’, providing a road map towards achieving business goals and objectives. Creating a business plan sets out the effective use of time and resources and how a business may take advantage of available business opportunities in the market. Business plans cover several predetermined functions such as revenue targets, raising finance and specific marketing or operational programs; and provide an analysis of firm’s internal and external environments the influence the components of the business plan.In this assessment task, you will be given two sample business plans from two different business/industry sectors. You will be required to compare both the plans and write a report that includes a comparative analysis of strengths and weakness of each of the plans.Your analysis will compare and cover the following aspects of the plan;? Analysis and interpretation of mission, vision and business objectives? Key strengths of the plan? Key weaknesses of the plan? Competitive environment? Strategic orientation (e.g. marketing strategy)? Available/required resources? Performance measures and/or benchmarksYour analysis should be comparative, presenting contrasting aspects of both the sample plans and contain your own views on key aspects of the plans as mentioned above. Merely re-producing or re-phrasing plan contents will not be sufficient. To reinforce the underpinning knowledge and develop the required analytical skills, schedule for this task may be arranged to coincide with the relevant classroom lessons, including practice and discussion sessions.The analysis should be word-processed, structured and presented in a report format. All external sources must be cited using the Harvard Referencing System.Assessment CriteriaThe following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.? Used comparative analysis to report key aspects of the given business plans? Analysis demonstrates an understanding of business plan components and their interdependence? Report encapsulates and summarises key aspects of the given business plans? Analysis of mission and vision reflects an understanding of business purpose, activity and direction? Analysis of business objectives provides a contrasting view of relevant businesses goals and targets? Identified strengths and weaknesses of each of the plans; e.g. elements that make plans more or less effectives? Presented a comparison of strengths and weaknesses of the plans? Analysis of the competitive environment is relevant to the industry and the business’s market position? Analysed each component of the marketing strategies using the 4Ps model? Analysis reflects strategic position and orientation of the business within its competitive environment? Identified and listed available and/or required financial, human and physical resource business resources? Identified performance objectives and measures in the plans? Compared and analysed performance measures and/or benchmarks? Report is appropriately structured using headings, sub-heading as required and contains tables for comparative analyses? Plans are analysed in own language and al external sources are cited using an appropriate referencing systemSubmission GuidelinesThis task must be prepared and submitted in a word-processed layout. Handwritten documents cannot be accepted for this task.Submit:??Comparative analysis of business plansThis assessment task must be completed in a designated session in presence of a trainer/assessor.Electronic versions of the assessment task and email/electronic submission arrangements are at further discretion of the trainer/assessor.Assessment Task 2:Assessment Task Project: Develop a Business PlanSchedule TBAOutcomes Assessed Performance Criteria:1.3, 1.4, 1.5, 1.6, 1.7, 1.8, 2.4Also addresses some elements of required skills and knowledge as shown in the Assessment MatrixDescription:The purpose of a business plan is to explain in writing what your business idea is, why it is needed in the marketplace, how it will succeed, and who will make it happen (Investopedia). For start-up businesses, a business plan describes a business opportunity and tells you what to expect, and what alternative measures you can take, to realise your business goals.In this assessment task, you will develop a business plan for your own venture. If you are planning to start your own business in the near future, this will be an opportunity to apply and enhance the required skills and knowledge to develop and write a formal business plan. The process of writing the business plan will enable you determine what commitments you will need to make to the venture. You may also complete this task for a fictitious business and/or a business idea. However, even for a fictitious venture, the assumptions and context should be realistic and viable.You will need to have your business idea approved by your trainer/assessor before commencing this task.The key areas covered in a business plan should ideally be common to the following purposes of writing a business plan;? Investigate and evaluate new business opportunities? Present a case for finance? Present a clear picture of the business and its potentialYour business plan will typically contain (but not limited to) the following components;? Executive summary? Business Overview/Profile o History o Management structure o Legal considerations o SWOT analysis? Business Concept o Core idea o Goals and objectives o Products and/or services o Description o IP/License/Acquisitiono USP/UVP? Environmental Scan o Industry environment and trends o Competitor analysis o PEST/PESTLE Analysis? Marketing Strategy o Market size o Market description o Market trendso Customer profiles and target markets o Distribution channels o Sales outlets o Storage and transport of goods o Pricing policy o Packagingo Sales promotions and sales strategy o Advertising strategy and costs o Public relations? Financial Forecasts o Start-up costs o Profit and Loss forecast o Cash flow forecast o Balance sheet forecast? Performance and Controls o Performance measures o Quality objectives and measures o Responsibilities o Performance evaluationThe business plan development and writing is an extensive process and learners should make sure that they attend all learning sessions, in-class activities and exercises to develop the required knowledge and skills to complete this project.Assessment CriteriaThe following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.? Conceived a viable business idea to be developed into a plan for a start-up business? Plan is summarised in an executive summary that covers all parts of the plan? Developed /conceived a business description that provides background, history and/or background of the people involved in the business? Described new business structure in line with allowable formal structures (e.g. company, partnership, sole trader)? Outlined relevant legal obligations and requirements (e.g. insurance, liability, disclosure)? Conducted a SWOT analysis of the business analysing strengths, weaknesses, opportunities and weaknesses? SWOT is relevant and realistic in relation to the chosen company or organisation? Outlined the core business idea/concept? The business idea/concept is realistic and logically attainable as a start-up business? Defined business goals and objectives? Objectives are specific, measurable, achievable, realistic, and time bound? Described products and/or services and their characteristics? Described any licensing, registration and/or IP requirements (e.g. patent)? Developed a Unique Value or Sales Proposition (UVP/USP) that distinguishes business’s products/services from competitors? Analysed the external environment and conduct an appropriate analysis such as PES or PESTLE as applicable in the business situation? Identified and analysed at least two competitors and explained own market positioning? Selected an appropriate market for the launch? Determined market segment and consumer profiles for the planning purpose? Market assumptions and targets are realistic and resemble a model business approach? Marketing objectives are in alignment with overall company goals and objectives? Developed a marketing mix (4Ps) that reflects a strategic approach? Strategies are realistic and cover product, market and unique selling/value proposition of the company? Developed appropriate marketing tactics to implement the marketing plan? Worked out start-up costs and identified fixed and variable costs? Developed a profit and loss projection for the first year in line with expected costs, expenses and revenues? Developed a cash flow identifying monthly cash position? Developed a balance sheet forecast based on P&L and cash flow? The financial forecasts are prepared in conventional formats and are realistic, balanced and error free? Conducted a breakeven analysis using a conventional formula? Developed performance measures in key result areas? Business plan includes methods of evaluation of performance against documented indicators in key results areas? The plan is written in a formal style using appropriate headings and subheadings to organise the informationSubmission GuidelinesThis task must be prepared and submitted in a word-processed layout. Handwritten documents cannot be accepted for this task.Submit:??Formal business plan with relevant attachmentsElectronic versions of the assessment task and email/electronic submission arrangements are at further discretion of the trainer/assessor.Assessment Task 3:Assessment Task Implement the Business PlanSchedule TBAOutcomes Assessed Performance Criteria:2.1, 2.2, 2.3, 2.4, 2.5, 3.1, 3.2, 3.3, 3.4Also addresses some elements of required skills and knowledge as shown in the Assessment MatrixDescription:A business plan remains a written piece of paper until it is actually implemented. Once implemented, it acts as a living or dynamic resource that helps to keep a business focus and continuously evaluate business performance against stated objectives.This assessment task compliments Assessment Task2. In this assessment task, you will develop an implementation plan with a view to implement the business plan you developed in Assessment Task2. Business plan implementation mainly involves clarification of objectives, task assignments with deadlines, and charting business progress in reaching goals and milestones. This task has two parts. Both the parts must be completed.The implementation will need to be conducted in a simulated environment. For this purpose, the class audience will play the role of organisational stakeholders. Your trainer/assessor will play the role of the Senior Manager.Ensure that you conduct due interactions and consultations as required.Part A: Plan for ImplementationThe implementation plan should be developed in as an ancillary document to the business plan listing each of the objectives and breaking down strategic initiatives into tasks with realistic timeframes. Your implementation plan may contain (but not limited to) the following components;? Business goals and objectives? Tasks and priorities? Delegation of tasks/responsibilities? Deadlines/Time allocation? Required resources (including staff training or professional development)? Internal communications? Strategies to manage performance issues and problems? Strategies to mitigate risks and manage contingencies? Strategies to monitor and develop the plan on an on-going basisThis task needs inputs from Assessment Task2 and as such cannot be undertaken as a stand-alone task. It should be completed in conjunction with Assessment Task2. Learners must also ensure that they keep pace with relevant learning sessions and practice to develop the required knowledge and skill to complete this part of the project.Part B: ImplementationAssume that the plan has been approved by the management and reached an implementation stage. In a typical workplace environment, implementation would be a stepped process and monitored over a long period time. In a classroom environment, implementation will be simulated. For the purpose of this task, the class audience will play the role of the staff. Your trainer/assessor will play the role of the senior manager. You will be required to emulate implementation process by;1. Calling and conducting a staff meeting2. Communicating requirements for implementing the plan – Action plan stages3. Key stakeholder and consultation process in implementation4. Seeking feedback on organisational requirements and explaining the procedure for implementation, including resource requirements5. Articulating the KPIs for measuring the success6. Seeking feedback on KPIs and adjusting as per the feedback7. Articulating KPI management process and protocols8. Plans for reviewing and improving the system9. Articulating requirements for improvements and seeking feedbackEnsure that you take notes from the meeting. Also ensure that you explain each step and seek feedback. Based on the discussion, articulate implementation process and assign responsibilities within the roleplay.You will be required to submit a final report summarising the meeting, audience suggestions, processes deployed for implementation and measures in place for continuous improvement.Submit along with your project documentation.Assessment CriteriaThe following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.? The implementation plan is prepared as an ancillary document to the Business Plan completed in Assessment Task2? The implementation plan is relevant to and aligns with the Business Plan completed in Assessment Task2? The plan restates/refines the business objectives and identifies key tasks that must be accomplished to achieve the objectives? Tasks are grouped with relevant objectives and prioritised based on their importance and complexity? Timelines/deadlines are realistic and within the scope of the plan? The plan identifies financial, human and physical resource requirements for the business? The plan identifies training, coaching and or development requirements of staff necessary to implement the business plan? Internal communication methods/processes are outlined to communicate and refer the plan to relevant stakeholders? Devised strategies to manage performance issues and problems? Strategies incorporate means/mechanisms to test performance measurement criteria and refine them if necessary? Devised strategies to mitigate risks and manage contingencies? Strategies cover risks and managing the risks of system failures and/or product failures and variances to the business plan as they occur? Devised strategies to monitor and develop the plan on an on-going basis? Strategies provide means/mechanisms to analyse and continuously improve performance against planned objectives? The plan is written in a formal style using appropriate headings and subheadings to organise the information? Called a meeting of stakeholders for the purpose of implementation? Outlined and articulated implementation process and assigned roles and responsibilities? Outlined organisational communication plan and consultation processes? Linked implementation to organisational policies and procedures as per the context developed within this unit and other tasks? Outlined and explained measures for evaluating plan performance? Set and performance measures? Described processes for improvements and assigned roles and responsibilities? Set processes for identifying improvement opportunities? Allowed for a robust discussion and simulated an implementation meeting and process? Captured and recorded audience comments and feedback? Developed a report comprising of implementation activities, processes, and how consultations and delegations were made? Demonstrated knowledge of business plan development and implementation within an organisational contextSubmission GuidelinesThis task must be prepared and submitted in a word-processed layout. Handwritten documents cannot be accepted for this task.Submit:? Formal implementation plan with relevant attachmentsElectronic versions of the assessment task and email/electronic submission arrangements are at further discretion of the trainer/assessor.7. Academic Policies and ProcessesStudents with Special NeedsIf leaners/learners have any special needs (e.g. physical disability, learning difficulty) regarding assessment, they should be directed to discuss these with the Course Coordinator. The college will endeavour to make all possible and reasonable adjustments to any aspect of assessment in order to address those needs. Some examples of additional support could include:? Language, literacy and numeracy (LLN)? Assistive technology? Additional materials or tutorials? Assistance in using technology for online delivery components.Reasonable adjustmentReasonable adjustment refers to any modification made to the learning environment, certification requirements, training delivery or assessment method to help learners with a disability access and participate in education and training on the same basis as those without disability (IBSA, 2015).The Disability Standards for Education 2005 were formed under the Disability Discrimination Act 1992. They clarify the obligations of training providers to ensure that learners who have a disability are able to access and participate in education and training on the same basis as those without disability.Some examples of reasonable adjustments could include:? Personal support services, e.g. a reader, Auslan interpreter, a scribe? assistive technology or special equipment, e.g. screen readers, magnifiers, alternative keyboards? modifying the presentation method, e.g. visual, oral, print, electronic? adjustments to timeframes, e.g. providing materials prior to class, extended time limits ??adjustment of the physical environment, e.g. specific furniture, arrangement of classroom.The determination of “reasonableness” requires judgement that must take into account the impact on the RTO and the need to maintain the integrity of the qualification. While reasonable adjustments can be made to the ways in which evidence of performance is gathered and demonstrated, the criteria for making Competent/Not Yet Competent decisions (and/or awarding grades) should not be altered in any way. That is to say, the standards expected should be the same irrespective of the group and/or individual being assessed (Disability Standards for Education 2005).Recognition of Prior Learning (RPL) and Credit TransfersLearners may apply for Recognition of Prior Learning (RPL) by providing evidence that they have the required skills and knowledge in the specific areas of competency through work/industry experience and/or completed eligible assessments in equivalent or higher qualification.Appropriate credit transfer may be granted to eligible learners against each unit of competency on evidence to successful completion of the same unit in an equivalent or higher nationally endorsed qualification. Credit transfer learners will finish the course in a shorter duration and are advised to consult appropriate authorities/bodies for applicable criteria if planning further study or stay in Australia.Applicants who have completed formal training or who have relevant and current work or life experience and consider they are able to meet the unit purpose may seek recognition.The college acknowledges skills and knowledge obtained through:? Formal training (conducted by industry or educational institutions in Australia or overseas)? Work experience? Life experienceThe main focus is on the learning outcomes of these experiences, not on how, when or where the learning occurred.To be granted RPL, applicants will be asked to:1. Present evidence of their achievement; and/or2. Undertake a challenge test; and/or3. Attend an interview with specialist staff.This evidence will be validated through either satisfactory supporting documentation of support from a recognised industry or workplace representative or challenge testingAcademic Policies and ProceduresApplicable policies and procedure related to this course including plagiarism, assessments, appeals and complaints, can be found with the course coordinator as well as in the “Policies and Procedures” section of the college’s website.Assignment Cover SheetStudent IDStudent NameUnitAssessment Task – Title/NumberTrainer/AssessorDate SubmittedNote: Plagiarism/Cheating is a serious offence. If a student is found plagiarising/cheating, it may result in a penalty of suspension/cancellation of student’s enrolment. In submitting their work, students must be aware of college’s Plagiarism and Academic Misconduct Policy available in student handbook, college’s website and student administration.Declaration of Originality:By submitting this assignment for assessment, I acknowledge and agree that:? This assessment task/work is submitted in accordance with the college’s Plagiarism and Academic Misconduct Policy. I also understand the serious nature of academic dishonesty (such as plagiarism) and the penalties attached to being found guilty of committing such offence? No part of this assessment task/work has been copied from any other source without acknowledgement of the source? No part of this assessment task/work has been written by any other person, except to the extent of team and/or group work as defined in the unit/assessment task? A copy of the original assessment task/work is retained by me and that I may be required to submit the original assignment to the trainer/assessor upon request? The trainer/assessor may, for the purpose of assessing this assessment task/work: o Provide a copy of this assignment to another member of the faculty for review and feedback; and/or o Submit a copy of this assignment to a plagiarism checking service. I acknowledge that a plagiarism checking service provider may then retain a copy of this assessment task/work on its database for the purpose of future plagiarism checkingLate submission: Late submission without a prior approval of the trainer/assessor will not be accepted and may delay the assessment outcome. You may also need to resubmit work as per college’s Reassessment Policy.I declare that this assessment is my own work.Student signature: Date:——————————————————————————————————————————————————————————————————————————————————————————————————Admin Use OnlyReceived | Date StampComments (if any)

Order from Australian Expert Writers
Best Australian Academic Writers